Naidu to Launch Mega Steel Plant Project in Andhra Pradesh
Andhra Pradesh Chief Minister N Chandrababu Naidu is set to inaugurate a new Rs 1.3 lakh-crore steel plant by ArcelorMittal Nippon Steel India at Rajayyapeta village, Anakapalli district. The plant is expected to create around one lakh jobs and transform the Visakhapatnam Economic Region into an industrial hub.
- Country:
- India
Andhra Pradesh is poised for significant industrial growth as Chief Minister N Chandrababu Naidu lays the foundation for a massive steel plant valued at Rs 1.3 lakh-crore. The plant, to be constructed by ArcelorMittal Nippon Steel India in Rajayyapeta village of Anakapalli district, promises to revitalize the local economy.
The ambitious project, with a total capacity of 18 million tonnes per annum, will unfold in two phases across 5,400 acres. Generating employment for around one lakh individuals, the plant's first phase alone demands an investment of Rs 70,000 crore, illustrating the project's monumental scale.
With support from the state's government, including infrastructure development like a four-lane road connecting to NH-16, the steel plant aims to meet India's growing steel demand and boost the Visakhapatnam Economic Region. Naidu, alongside industry leaders and officials, will officiate the groundbreaking and engage in MoU exchanges.
(With inputs from agencies.)
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